By Chifundo Masanche

Renowned economist Betchani Tchereni has faulted government’s loan tracking system claiming it is not effective.

Recently, the National Economic Empowerment Fund (Neef) said it wants K9 billion to be written off due to failure in tracing borrowers.

Tchereni said failure by government to track borrowers has resulted to increased debt defaulters.

He has advised the government to improve management of the loan tracking system.

Concurring with Tcheleni, Professor of economics at the University of Malawi (Unima) Ben Kalua, has condemned the Malawian culture of failure to pay back loans.

Kalua called on government to introduce a proper debt tracking system which will only allow an individual to take loan once.